MGIC Investment (NYSE: MTG) COO granted 273,875 performance-based RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
MGIC Investment Corp President & COO Salvatore A. Miosi reported an acquisition of 273,875 shares of common stock tied to a previously granted restricted stock unit (RSU) award. The RSUs were granted on February 3, 2023 under the company’s Omnibus Incentive Plan and required performance based on growth in adjusted book value per share.
Performance for this award has been approved by a board committee, and, subject to continued employment, the shares are scheduled to be issued on the first business day following February 28, 2026. After this reported award, Miosi’s direct holdings total 761,203.361 shares of MGIC common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Miosi Salvatore A
Role
President & COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 273,875 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 761,203.361 shares (Direct)
Footnotes (1)
- Represents shares of Issuer common stock to be issued under a restricted stock unit award granted to the Reporting Person on February 3, 2023. The award is subject to performance-vesting restrictions based on growth in adjusted book value per share. Performance with respect to the shares reported in Column 4 has been approved by the appropriate committee of Issuer's Board. Provided continued employment, the shares will be issued to the Reporting Person on the first business day following February 28, 2026. These RSUs were awarded to the reporting person pursuant to the Issuer's Omnibus Incentive Plan and no price was paid by the reporting person for them.
FAQ
What did MGIC Investment Corp (MTG) disclose in this Form 4?
MGIC Investment Corp disclosed that President & COO Salvatore A. Miosi acquired 273,875 shares tied to a restricted stock unit award. The award is performance-based and relates to growth in adjusted book value per share under the company’s Omnibus Incentive Plan.
What performance conditions apply to Salvatore A. Miosi’s MGIC (MTG) RSU award?
The RSU award is subject to performance vesting based on growth in MGIC’s adjusted book value per share. A committee of the board has approved performance for the shares reported, enabling issuance after the February 28, 2026 date, assuming continued employment.
Did Salvatore A. Miosi pay a purchase price for these MGIC (MTG) RSUs?
No cash purchase price was paid by Salvatore A. Miosi for these RSUs. The footnotes state the units were awarded under MGIC’s Omnibus Incentive Plan, and no price was paid by the reporting person for them.